Cosmos (ATOM) Faces Rejection Near the $9.00 Mark

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RESULTS

The Cosmos token has moved further today by an additional 3.06%. This has been the most significant move observed among the top three daily crypto movers. However, the token remains in the second spot, seemingly due to encountering resistance in its price trajectory. Let’s examine this market more closely.

ATOM Statistics:
Current Cosmos Value: $8.70
Cosmos Market Cap: $3,409,690,508
ATOM Circulating Supply: 390,930,671
Cosmos Total Supply: 390,930,671
Cosmos CoinMarketCap Rank: 29

Key Price Levels:
Resistance: $9.00, $10.50, and $11.50
Support: $8.00, $7.00, and $6.00.

Previous Gains Keep the ATOM Market on an Upside Trajectory

The Cosmos daily market, as mentioned earlier, experienced significant price growth yesterday. Today’s trading activities have deviated slightly from that trend, with the market undergoing a minor correction.

Nevertheless, the cryptocurrency continues to trade above the green Guppy Multiple Moving Average (GMMA) curves. The Stochastic Relative Strength Index (SRSI) lines are still pointing upwards into the overbought region, despite the minor downward rejection. Consequently, it appears that the overall trend may persist.

Cosmos Seems Ready to Keep Trending Upward

The 4-hour ATOM market indicates that upside forces may be regaining strength. A new session has commenced favorably for buyers and holders, maintaining trading levels above the green GMMA indicator lines.

The SRSI indicator lines have continued to rise into the overbought region. The current session’s appearance, along with the SRSI indicator lines, suggests that further upward movements may occur in this market. Consequently, this implies that crypto signals targeting around the $9.20 mark may still be applicable in this market.

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